FTSE 100 Seen Lower on Fed Fears After Strong US Data

12/06/2022 | 03:10am

FTSE 100 Seen Opening Lower After Strong US Data

0741 GMT - The FTSE 100 is seen opening lower following losses in U.S. stocks overnight after strong U.S. economic data supported the case for the Federal Reserve to continue raising interest rates aggressively. IG futures data show the London blue-chip index opening down 17 points. Stronger-than-forecast ISM U.S. services data on Monday suggested economic activity is "growing un-ideally faster than expected despite the Federal Reserve's efforts to cool it down," Swissquote Bank analyst Ipek Ozkardeskaya writes. That may have fuelled the "Fed hawks" who favor continued monetary policy tightening, she says. (renae.dyer@wsj.com)

 
Companies News: 

Ashtead Group Raises FY 2023 Guidance After Increased 2Q Profit

Ashtead Group PLC said Tuesday that it now sees full-year results ahead of previous expectations after pretax profit in the second quarter rose thanks to momentum in its end markets.

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Marston's Swung to FY 2022 Pretax Profit on Trading Normalization, Lower Costs

Marston's PLC on Tuesday reported a swing to pretax profit for fiscal 2022, driven by a return to more normalized trading, despite disruption caused by the Covid-19 Omicron variant, and reduced costs.

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Cochlear's Oticon Medical Deal Raises UK Hearing Implant Market Competition Concerns, Regulator Says

The U.K.'s Competition and Markets Authority said Tuesday that Cochlear Ltd.'s proposed deal for Oticon Medical could have a negative impact on the hearing implant markets and could be referred for further investigation if its concerns aren't addressed.

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Paragon Banking FY 2022 Pretax Profit Jumped; Plans GBP50 Mln Buyback

Paragon Banking Group PLC on Tuesday reported a 96% rise in pretax profit for fiscal 2022 and said it plans a share buyback of up to 50.0 million pounds ($61.0 million) for fiscal 2023.

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Telecom Plus Chairman Sells 3.5M Shares at 2,400p Each

Peel Hunt LLP said Tuesday that it has sold 3.5 million ordinary shares in Telecom Plus PLC at 2,400 pence each on behalf of nonexecutive Chairman Charles Wigoder and his family.


Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

12-06-22 0309ET

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